Why Conducting an Asset Search is an Essential Due Diligence Tool

more+
less-

The most obvious use of an asset search is when a client is injured in an automobile accident client or personal injury case. The attorney representing his clients must use due diligence to determine whether the person or entities responsible for the clients injuries and damages have assets to attach if there is insufficient insurance coverage. An attorney’s failure to inform the client of their right to find and possibly go after assets to make the client whole, exposes the attorney and their firm to a potential malpractice complaint. Since asset searches only cost between $185.00- $300.00 on the average, it makes no sense not to conduct a search or at the very least, propose that a search be conducted to the client. If the client refuses, the attorney is covered and more important, if the search is conducted, assets may be discovered and attached thereby further compensating the client and their attorney.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Edward Amaral, Amaral & Associates, P.C. | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×